Bakken Formation, Estevan,
South East Saskatchewan
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The terms of the lease allow Forest Gate to undertake oil and gas exploration, development and production on two-quarter sections, or 320 acres, near the town of Estevan, Saskatchewan.
- 2 x p (Quarter) sections (Total of 320 acres)
- Lease Title: SW 19-05-09-2 and SE 19-05-09-2
- One year lease commencing January 1st 2009
Bakken Formation background:
According to industry reports, Bakken Formation oil exploration in the area has resulted in production of nearly five million barrels annually according to 2007 figures. Bakken wells tend to be highly productive, producing 200 barrels a day or more of sweet, light crude oil with 41-degree gravity*.
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Current Bakken Formation Oil Production:
Petrobank, TriStar and Crescent Point Energy Trust are among the companies currently producing oil in this area of South Eastern Saskatchewan. Another prominent player is Talisman Energy, with over 200 development wells identified, 22 of which were planned for drilling in 2008, in proximity to Forest Gate’s newly acquired acreage near the town of Estevan.
Of particular interest is Crescent Point Energy Trust, with a dominant position at the Viewfield Bakken, and currently producing in excess of 14,000 boepd, with post fracture stimulation production rates of 200 boepd per well. The Trust’s wells in the Viewfield Bakken are also in the vicinity of Forest Gate’s newly acquired property.
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*Source: Oil & Gas in Saskatchewan, Saskatchewan Industry and Resources August 22, 2007.
Note: Specific information related to individual companies mentioned was sourced from respective company websites.
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